The RCMP are now investigating the matter as a missing person case, while the Transportation Board will be investigating it as a work-related accident.
The name of the 36-year-old fisherman, who is from Grand Manan, is not being released until his family has been properly notified, Sgt. Larry Burden stated in a release.
Joint Rescue Co-ordination Centre in Halifax received an emergency call around 5:40 p.m. on Thursday that a man had fallen overboard from a fishing boat.
The fisherman fell into the water about 11 nautical miles east of Grand Manan.
Geri Grychowski, a spokesperson for the rescue centre, said they immediately dispatched a Coast Guard vessel, a Cormorant helicopter and a Hercules aircraft to search the waters around the island.
“They searched overnight and this morning, and at around 7 a.m. the search has been reduced, based on the individual, on what he is wearing, the temperature of the water," Grychowski said.
"All I know is he was wearing rain-gear and did not have a personal floatation device on."
The helicopter was still in the area on Friday morning, doing a search pattern and local fisherman were advised to keep an eye out.
"They'll continue searching, but just at a reduced level," Grychowski had said. "It is a terrible time, but we're doing as much as we can.
"It will be turned over to the RCMP as a missing person, but we'll continue searching as long as we can and hope for the best."
RCMP issued a release at about 4:20 p.m., saying the search had been called off and they were taking over the file.Suggest a correction